Managing Spend for Significant Bottom-Line Results
- Topics:
- Analysis
- Tags:
- Human Resources,
- Management,
- Montgomery Research Inc.,
- Performance Management,
- Strategy,
- Workforce Management
- Source:
- Montgomery Research
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Overview: An enterprise spend management solution enables businesses to automate key steps of the spend-management process in a single closed-loop system and provide enterprise-wide visibility and operational control. Though businesses cannot control the economic circumstances in which they operate, they can control the money they spend. One hundred percent of the money companies save goes directly to the bottom line. Most companies today understand the need to fully manage their spend, but face significant challenges in trying to do so. Chief among these is the need to recognize ESM as a single, integrated process that must be implemented consistently across the enterprise. The failure to establish a fully integrated ESM process also results in people, or organizational, challenges. Thus, the ever-increasing pressure to cut costs and improve bottom line performance makes effective ESM more crucial today than ever before. However, to achieve these goals and build a true core competence in ESM, companies need to employ the right strategy and process.
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Format: HTML | Date: Jan 2003 | Pages: 1
